Oriental Happy Family Floater Insurance Plan

This is a family floater plan wherein the insured and his/her immediate family members are covered under a single policy. The health insurance plans are available in two varieties – Gold and Silver. The policy offers flexibility in terms of sum insured and add-on to help you get the most out of it. Family is defined as self, spouse, children, and parents and parents-in-law.

Option to add Personal Accident cover with both Gold and Silver plan, while Life Hardship Survival benefit can be added only on Gold plans.

Option to choose between TPA (Third-party administrator) and non TPA services. Discount of 5% on premium is applicable if TPA services are not chosen.

Tax benefits:

Customers can claim tax deductions on the premium payments made in a year. The deductions are available under Section 80D of the Income Tax Act, 1961. Individuals can claim a maximum deduction of Rs.25,000 in a year on health insurance premiums, while senior citizens can claim deductions up to Rs.30,000 in a fiscal year.

Eligibility:

Applicants should be an Indian resident citizens over 18 years and less than 60 years of age.

Family members include policyholder, his/her spouse, children and parents and parents in law.

Exclusions:

Pre-existing diseases covered from 4th year of policy renewal onwards.

Life hardship benefit applicable for 180 or 270 days of survival after discharge.

Ailments such as AIDS and mental illnesses.

Renewal:

Policy renewal option is applicable for all customers, subject to approval from the insurer.

Renewal can be done online or through any of the registered offices of the Oriental Insurance Company Ltd.

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GST rate of 18% applicable for all financial services effective July 1, 2017.

Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.